Está en la página 1de 8

Author(s)

last name,
first initial Publication date Title of article or chapter Journal title Database

The Dynamics of Productivity in the


Olley, G. November,1996 Telecommunications Equipment Industry. Econometrica J Store

Pakes, A.

levinsohn, J. April, 2003 Estimating Production Functions using InpuThe Reviewof EcJ Store
Petrin, A.
URL Method

Within: Controls for simultaneity caused by


http://www.jstor.org/stable/2171831 endogenous input demands.

OLS: Controls for index of productivity.

http://www.jstor.org/stable/3648636 .  OLS
Olley and Pakes Investment Proxy Estimator
Fixed Effects
Blundell-Bond GMM
Design Population Sample

Semiparametric estimator for the Full Sample: 2592


production function parameters.

Balanced Panel: 896

Intermediate Input Proxy Estimate 6665 plants from 1979


Problem

Selection problem by relationship between the


unobserved productivityvariable and the shutdown
decision.

Simultaneity problem generated by the relationship


betwerrn productivity and input demands.

Controls for the part of the error correlated with inputs


Purpose

Analyze changes in the distribution of productivity that


accompanied the changes in the regulatory and
technological environment.

Estimating Production funcion: Tecnology and optimizing behaviour


Summary (what is it about?)

Empírico: Estimar parámetros de la función de producción de las empresas que se


encuentran en la industria, para luego analizar la evolución de la productividad. Esta
evolución también se encuentra afectada por la entrada y salida de las empresas,
porque genera salida de la muestra (attrition). La endogeneidad de las decisiones,
genera dos problemas importantes: problema de selección y de simultaneidad.

Teórico: Crear un algoritmo de estimación para solucionar los problemas de selección y


de simultaneidad, esto por medio de índices que profundizan en determinar el
crecimiento de productividad.

ptimizing behaviour
Reference list entry
Analysis (strengths and weaknesses compared to other studies) (APA 6th ed.)

Classic simultaneity problem analyzed


(Marschak and Andrews , 1944)

Stregnths Semiparametric results (Pakes and Olley,


1995)

Combination input demand and the


liquidation rules for control (Ericson and
Pakes, 1995; Hopehayn and Rogerson,
1993; Jovanovic, 1982; Lambson, 1992)

Estimates of non parametric functions


which one indexed by other parametric
functions. (Andrews, 1994,1995)
Weaknesses
Partially linear model does not allow to
separate the effect of capital and age on
the investment decision form their effect
on output.

Overall Analysis

Productivity increases were primarily a result of a reallocation of capital towards more productive stablishments.
Estimates of production function parameters:
Problem Solution
Dynamic Model of firm-behavior that
Extent that diffrences in efficiency are kn allows for firm-specific efficiency
Entry and exit differences.
Bellman equation for an incumbent firm.
Industry produces homogenous product with Cobb-Douglas technology and that the factors underlying profitability difference
Estimation algorithm: Labor as the only factor variable, capital and technology are fixed factors affected by the index of produc
Changes in the telecommunications industry improved performance by inducing a reallocation of capital to more productive p
Conclusions: Changes in the regulatory structure were followed by an increase in industry productivity generated by a realloca
Differences in productivity among plants are highly serially correleated over time.
Plants that are going to enter the market have m ore productivity than the ones that are leaving, that is why the full sample es
e stablishments.

erlying profitability differences among firms are neutral efficiency differences.


ffected by the index of productivity.
capital to more productive plants.
tivity generated by a reallocation of capital and a shift in production.

that is why the full sample estimation is larger than the balanced panel.